This painting was presented to King George V at a Jockey Club Dinner that followed the Derby in May 1935. It depicts the King's racehorse, Limelight (born of Pharos-Vervaine), a dark bay, standing bridled, in a hilly landscape, with a clump of trees to the left. It appears to have been painted swiftly, as in March 1937, the artist wrote requesting permission from King George VI to send a man to varnish the picture, adding 'I had only twelve days to paint the picture and have never seen it since.'

Lynwood Palmer was a self-taught artist who had a passion for horses. He never exhibited his work, painting exclusively for private patrons, notably the 6th Duke of Portland (1857-1943), the Countess of Warwick (1861-1938) and King George V (1865-1936). He was probably influenced by the artist James Ward (1769-1859) who gives his horses a similar nervous, highly-strung character often supported by an intense and dramatic landscape background (see RCINs 405017, 402008). In 1927 he recounted that the 'secret of painting race-horses lies in quickness. Their movements are so alert, they are so full of nervous energy, that the artist has to have a hand like a streak of lightning to catch the pose while it lasts.'

The Royal Collection also holds a charcoal drawing of Limelight, 1935 (RCIN 450111) and three other paintings (RCINs 406541, 407323, 402432,).